MECHANICAL ALARM

As high-end timepieces are increasingly targeted by thieves, watch owners are turning to dedicated insurance policies to protect their investments. We explore the growing trend of luxury watch theft and the challenges faced by the insurance industry

By Amrita Katara

The luxury watch market is currently facing a troubling rise in thefts, compelling owners to enhance their insurance coverage to protect their valuable possessions. As high-end timepieces become increasingly desirable, criminal elements have adapted, targeting affluent individuals and watch retailers in urban centres around the globe. According to a study by luxury watch e-commerce portal Watchfinder & Co, in 2022 London was a major hotspot for luxury watch thefts, with more than 6,000 watches stolen, and a staggering £4 million in losses from just 300 incidents between April and September, as reported by Evening Standard in the UK. This trend is not limited to London; cities like Paris, Geneva and Zurich are also experiencing a surge in watch-related crimes. For instance, Paris saw a 31 per cent increase in luxury…

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Tatler GMT (Digital) - 1 Issue, September 2024

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